Hyundai to Use Blockchain to Pair Smartphones to EVs

April 9, 2019

Hyundai Motor Group, the largest carmaker in South Korea, has announced that it will use blockchain technology to enable the pairing of smartphones with its electric vehicles (EVs). With this move, drivers will be able to customize the primary settings of their EVs via a smartphone application powered by blockchain to prevent security issues.

According to Cointelegraph, the South Korean carmaker said in a statement that it expects to be the first car manufacturer to put blockchain-based technology to use in order to secure data that drivers input on the EV’s custom settings and share to the server.

Hyundai explained that its platform will encrypt major performance parameters using blockchain. The system will work by establishing new data blocks while the information is being uploaded and shared on the server, with the purpose of deterring data hacks from other parties.  

Drivers can adjust a total of 7 performance settings, from the EV’s maximum speed limit, responsiveness, and energy use on climate control to the maximum torque output of the motor, regenerative braking capacity, and acceleration and deceleration abilities.

Hyundai has also been keen to used fintech and blockchain to upgrade its services in other areas. Hyundai Commercial a financial services subsidiary of the conglomerate has announced a joint project with IBM that will focus on adapting the auto brand’s business model through blockchain technology.

The project will use open-source Hyperledger Fabric blockchain technology in order to develop a new supply chain financing ecosystem which will serve the Hyundai Commercial network.

Source: cointelegraph.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

 

    Related Article
    AP and Everipedia Team Up to Publish US Election Race Calls on the Blockchain
    The Associated Press (AP), the world's most trusted news agency, will distribute race calls to Everi...

    October 20, 2020

    Breitling To Offer Digital Passport Based On Blockchain
    From October 13, 2020, all new Breitling watches will be delivered with a blockchain-based digital p...

    October 20, 2020

    An Overview of the State of Blockchain in Malaysia & Singapore
    This blog will take a deeper look at the past, present, and future prospects on blockchain technolog...

    October 19, 2020

    American PowerNet Eyes Rollout Of Energy Trading Technology In North America
    American PowerNet (APN) eyes rollout of energy trading technology in the North American market follo...

    October 18, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us